Cost effective products
Advertisements are successful if a number of issues are considered. First one has to the target group and the perceptions that it is intended to give about the product in terms of the benefits the products will have to the consumer (McNamara 2008). There are different medias used to advertise which is highly dependent on the target group intended for the advertisement. For example if the product is for the youth TV commercials and the internet might be more appropriate while for business people business journals and newspapers might be the ideal media to advertise.
The media used for advertising is however also dependent on the budget of the company as the different medias have their own different costs. The marketing department has become an industry on its own as this has become a focal point in the business field. There are many agencies which specialize purely on market research and advertising and the companies outsource for their services . this however cannot replace the marketing department in the company as advertisements is only one of their functions.
In deciding the type of the advertisement to use it is necessary to have a sales forecast to determine how much revenue will be
Need essay sample on "Cost effective products"? We will write a custom essay sample specifically for you for only $ 13.90/page
For example Coca Cola tries to incorporate the pop culture of the youth to try to induce the youth to buy the product. There is also the use of role models or public figures who endorse products and this is meant to appeal to the fan base of the public figure to buy the product. Celebrities and sportsmen are usually used to endorse products and this is a good marketing approach as we have seen the results of such endorsements. For example Michael Jordan endorsed the Nike shoes and this led to the increase of sales for Nike shoes as many fans associated them with the NBA player.
There is however a downside as not all advertisements are meant to promote the products. Some companies use the adverts to malign or speak ill of other products even if not directly. Also some do not enclose the true details n terms of quality and so the customers buy the products blindly not regarding the quality. Also because of branding, most customers do not do enough market research to establish the most cost effective products because they do not necessarily buy the product rather than the product itself. This has called for regulations in the advertising industry to curb these practices
Regardless of the down turns of advertisement, it is still a very important aspect of marketing as it increases the awareness of a product in the market and consequently boosts the sales of the company. If it were not for advertisement, most consumers would not be aware of the existence of some products in the market. It is also good for the consumers because it brings about healthy competition which ultimately lowers the cost of the goods and increases the quality as each company wants to capture the market share. It also presents a wide range for the consumer to choose from which helps in the customer satisfaction.
Advertisements therefore plays a very important role in marketing as the main role of marketing is to make the product known to the potential customers and advertisements therefore provides the medium to do that. It is therefore imperative for any company to invest in advertisements as they will eventually get the rewards in terms of increased sales.
References McNamara, C. (2008), Advertising and promotions, Authenticity Consulting LLC. Viewed on 25 March 2009, http://www. managementhelp. org/ad_prmot/ad_prmot. htm#anchor431203 Petley J. , (2003), Advertising, Technology, People, Process (Media Wise), Smart Apple Media.